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Stock Market & Financial Investment News

News Breaks
June 16, 2014
08:31 EDTPRXLPAREXEL announces $150M accelerated share repurchase program
PAREXEL announced that it has entered into an Accelerated Share Repurchase agreement with Goldman Sachs to repurchase an aggregate of $150M of the Company's common stock. The ASR is part of the Company's share repurchase program authorizing the repurchase of up to $150 million, as originally announced on June 2. Under the ASR agreement, PAREXEL will receive approximately 2.3 million shares at the inception of the ASR. The ASR will be funded through cash on hand, and/or existing credit facilities. As of March 31, the company had cash and cash equivalents of approximately $299M and availability under an existing line of credit of $290M.
News For PRXL From The Last 14 Days
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January 20, 2015
08:49 EDTPRXLPAREXEL downgraded to Neutral from Buy at SunTrust
SunTrust downgraded PAREXEL based on full valuation. Price target remains $65.
06:09 EDTPRXLPAREXEL downgraded to Neutral from Buy at SunTrust
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January 13, 2015
08:34 EDTPRXLPAREXEL book-to-bill suggests growth returning, says UBS
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08:34 EDTPRXLPAREXEL sees December quarter exceeding 1.4 book-to-bill ratio
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